Unicycive Therapeutics (NASDAQ:UNCY) Releases Quarterly Earnings Results, Beats Expectations By $0.29 EPS

Unicycive Therapeutics (NASDAQ:UNCY) issued its quarterly earnings results on Wednesday. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.29, FiscalAI reports.

Unicycive Therapeutics Stock Performance

Shares of Unicycive Therapeutics stock traded up $0.37 on Wednesday, reaching $5.16. The stock had a trading volume of 905,229 shares, compared to its average volume of 392,949. The stock has a market cap of $91.13 million, a P/E ratio of -1.26 and a beta of 1.87. Unicycive Therapeutics has a fifty-two week low of $3.71 and a fifty-two week high of $11.00. The business’s 50-day moving average price is $4.47 and its two-hundred day moving average price is $5.09.

Analyst Upgrades and Downgrades

UNCY has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Unicycive Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, November 2nd. HC Wainwright reissued a “buy” rating and set a $22.00 target price (up previously from $9.00) on shares of Unicycive Therapeutics in a research note on Wednesday, October 29th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Unicycive Therapeutics in a research note on Thursday, October 30th. Finally, Benchmark increased their price objective on Unicycive Therapeutics to $21.00 and gave the stock a “speculative buy” rating in a report on Monday, September 15th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.33.

Institutional Trading of Unicycive Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC bought a new position in Unicycive Therapeutics during the second quarter worth $55,000. JPMorgan Chase & Co. raised its position in shares of Unicycive Therapeutics by 11,698.4% during the second quarter. JPMorgan Chase & Co. now owns 21,709 shares of the company’s stock valued at $104,000 after buying an additional 21,525 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Unicycive Therapeutics by 8.7% during the third quarter. Vanguard Group Inc. now owns 658,878 shares of the company’s stock valued at $2,873,000 after acquiring an additional 52,925 shares during the period. Institutional investors own 40.42% of the company’s stock.

About Unicycive Therapeutics

Unicycive Therapeutics, Inc, a biotechnology company, engages in developing novel therapies for kidney diseases in the United States. It is developing Renazorb for treatment of hyperphosphatemia in patients with chronic kidney disease on dialysis; and UNI 494, which is in Phase 1 clinical trials for treatment of acute kidney injury.